EU clears CTT–DHL eCommerce Joint Venture
The European Commission has granted approval for the joint venture between CTT – Correios de Portugal and DHL eCommerce, a significant step that removes the primary regulatory obstacle under EU merger rules. With this clearance, the companies are now proceeding with the final steps to complete the transaction, which is anticipated to close in May 2026. This timeline is contingent upon receiving approval under the EU Foreign Subsidies Regulation.
This strategic partnership is poised to significantly bolster the positions of both CTT and DHL eCommerce within the Iberian e-commerce market, which represents Europe’s fourth-largest parcel market. The joint venture will establish a combined network with a daily capacity exceeding one million shipments and is projected to generate approximately €1 billion in revenue.
Pablo Ciano, CEO of DHL eCommerce, emphasized that the partnership will yield a high-performing network catering to both B2B and B2C customers. He further stated that it will facilitate retailer growth and reinforce DHL’s presence in Europe.
João Bento, CEO of CTT, described the agreement as a key milestone, highlighting its role in accelerating growth and expanding CTT’s Iberian footprint.
Under the terms of the agreement, CTT Expresso will acquire DHL eCommerce’s operations in Portugal. Grupo CTT will also acquire a 25% stake in DHL eCommerce Spain, while DHL eCommerce will similarly acquire a 25% stake in CTT Expresso. Both entities retain the option to increase their stakes to up to 49%.
In Portugal, CTT Expresso will manage DHL eCommerce’s parcel volumes. The operational division in Spain will see CTT Express concentrating on B2C services, while DHL eCommerce Spain will focus on B2B activities.
The overarching objective of this joint venture is to enhance operational efficiency and capitalize on the substantial growth anticipated within the regional e-commerce sector.